Capital destruction through these four pitfalls

Digitization can be a great way to improve efficiency and save time and money, but only if it is properly prepared and executed. However, digitization can also lead to errors and wasted time if not done correctly.

Here are four pitfalls you want to avoid:

“There are momentarily more important matters.”

With a large digitization project, it can be difficult to see the finish line. At first there is much enthusiasm, but this quickly diminishes as other priorities begin to take hold.

Clearly, unfinished projects are capital destruction. After all, all the time and effort put into the project is lost if it is not ultimately completed.

One pitfall in digitizing a business process is not understanding your company’s needs well enough. Build or buy too hastily, and you could introduce more problems than you solve.

“It can be done in between.”

It is a common problem that digitization is done simultaneously with many other tasks. This leads to the staff feeling overwhelmed and juggling all sorts of small pieces.

It can also lead to mistakes if employees try to quickly work their way through the project without taking the time to do it carefully.

“We should just get started.”

Too often, digitization projects are implemented without a clear understanding of what is really needed. This can lead to unnecessary time and money being wasted on unnecessary actions and companies only figuring out what they need as they go along.

To avoid this waste, it is essential to take the time to see and understand the process being digitized.

“Bob takes care of that because he knows the most about IT stuff.”

Digitization is not just software, but also processes. It usually starts from an IT perspective, but must also be aligned with the existing and intended way people or systems work in the day-to-day business.

Failure to do so can lead to frustration among staff trying to use the new system, and may even lead to the failure of the digitization project.

This pitfall is often caused by considering business processes and IT systems separately, when they are interconnected and should help each other.

People with the need for improvement and the creators of the digitization solution speak a different language, resulting in misunderstandings and negative consequences.

The point is

To avoid the above pitfalls, a good plan must be made and implemented in a structured manner. That starts with good preliminary research. If you need help with that, schedule an introduction.

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